Month: September 2020

Punjab Govt To Welcome Investment For Solar Panels Manufacturing

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MULTAN, (APP – UrduPoint / Pakistan Point News – 22nd Sep, 2020 ) :Provincial Minister for Energy Dr. Akhtar Malik said on Tuesday that the Punjab government would welcome investment for manufacturing of solar panels in the country. He expressed these view in a meeting with officials of two Chinese companies including China Machinery Engineering Company (CMEC) and Zhunergy, said an official release issued here. CMEC branch manager Saman and Zhunergy general manager Gordon Gao expressed interest in investment in alternate sources of energy. Alternate sources of energy could serve as game changer for Pakistan and different companies were showing interest in…

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Time to go back to import substitution

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Globalization has lost its shine for the rich countries which in the first place had been its promoters as they went around the world looking for cheap labour in the 1980s. East Asia and then in a big way China became their sweatshops. The result was, not only millions were lifted out of poverty in these regions, but the transfer of manufacturing to these regions had brought them stunning economic advancement bringing in the process China almost at par economically with these rich countries. Now China is seriously challenging the…

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CPEC: Gwadar Emerging As Immense Trade, Energy-transportation Hub, To Economise Landlocked States

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LAHORE, (APP – UrduPoint / Pakistan Point News – 22nd Sep, 2020 ) :The China Pakistan Economic Corridor (CPEC) project intends to build Pakistan‘s most needed infrastructure and boost its economy by constructing modern transportation networks, setting up of Special Economic Zones (SEZ) and numerous energy projects. Geo-strategically, CPEC project is located between three key important landlocked regions of the globe including economically emerging and rich-resourced Central Asia, oil-rich Western Asia and thickly populated South Asia. �After globalization, digital technology is transforming the world into global-digital-village in the real sense of modern technology usage, and regional integration is a key aspect of this information mechanism.�� If…

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After debt reduction, PSO to reap benefit in next quarter

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Despite declaring a loss after tax of Rs 6.465 billion for the year ended June 30, 2020, Pakistan State Oil (PSO) may have found a silver lining as the company has managed to retire Rs 42 billion debt in the company’s short-term borrowings. As per details, PSO short term borrowings reduced from Rs 121.678 billion in FY19 to Rs 79.032 billion in FY20, signifying a debt decline of an impressive 35 percent. As per a report from Foundation Securities, the decline in short-term debt is likely to have a strong positive…

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MEPCO outperforms DISCOs in achieving recovery target in 2018-19: Nepra

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LAHORE: The Multan Electric Power Company (MEPCO) remained very close to its recovery target, followed by Gujranwala Electric Power Company (GEPCO) and Lahore Electric Supply Company (LESCO) by showing their recoveries as 99.8 percent, 98 percent and 97.67 percent respectively during 2018-19, said Performance Evaluation Report of National Electric Power Regulatory Authority (NEPRA) for the fiscal year 2018-19. However, none of the DISCO has achieved the milestone of 100 percent recovery. According to details, against a target of 100 percent, the actual recovery of Peshawar Electric Supply Company (PESCO) stood…

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